EU ministers agree to raise deposit guarantee

European Union finance ministers agreed to guarantee bank deposits up to 50,000 euros ($67,930), against 20,000 euros under current rules, a document viewed by Reuters said on Tuesday.

Ministers agreed that the ceiling should be "raised to 50,000 acknowledging that many are determined to raise the minimum to 100,000 euros," the document said.

The European Commission will soon come forward with a formal proposal to reform the EU rules on deposit guarantees.